Analyst Justin Bennett Says Ethereum-Based Altcoin Could Explode by Over 600%, Updates Outlook on Solana

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Daily Hodl2024/12/19 16:00

By:by Daily Hodl Staff

A widely followed crypto analyst is suddenly turning bullish on one Ethereum ( ETH )-based altcoin after its correction this week.

In a new thread on the social media platform X, crypto trader Justin Bennett tells 115,500 followers that CRV , the native token of stablecoin lending platform CurveDAO, could soar more than 600% from its current value.

“Well, we didn’t get my extremely hopeful $0.40-$0.50 buy zone on CRV. I had a [prayer] there for a reason. Lol. So I bought [Friday’s] blood, and I’ll add more on a weekly close above $0.87. $6-plus potential in my opinion.”

Analyst Justin Bennett Says Ethereum-Based Altcoin Could Explode by Over 600%, Updates Outlook on Solana image 0

Source: Justin Bennett/X

CRV is trading for $0.77 at time of writing, down more than 14% in the last 24 hours.

Next up, the trader says that Solana ( SOL ) may be gearing up for a breakout after correcting into the $180 range.

“SOL into $180s. As mentioned two days ago [on December 18th], this is the ideal buying opportunity in my opinion. It’s somewhat of a make or break area, so let’s go!”

Analyst Justin Bennett Says Ethereum-Based Altcoin Could Explode by Over 600%, Updates Outlook on Solana image 1

Source: Justin Bennett/X

Looking at his chart, the trader suggests if Solana can hold the descending trendline as support, it may surge to $290.

Solana is trading for $191 at time of writing, down more than 7% in the last 24 hours.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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Share link:In this post: Justin Sun sold 50% of his Ethereum holdings worth $143M, adding selling pressure as ETH dropped 17% to $3,304 in a week. Sun’s transactions average $3,674 per ETH, yielding a 29% ROI, with 42,904 ETH ($139M) unstaked that analysts predict he will eventually sell. Ethereum faces bearish trends below $3,500 but sees continued institutional ETF interest, with inflows reaching $62.73M in the past trading week.

Cryptopolitan•2024/12/23 13:55